Silver Standard Reports 2014 Adjusted After-tax Loss of $24.2 Million

Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) released its consolidated financial results for Q4 2014 as well as the year as a whole, noting that for the fourth quarter it recorded an adjusted loss after tax of $6.3 million, or $0.08 per share. For 2014 its adjusted loss after tax was $24.2 million, or $0.30 per share.

Other highlights include:

• Delivered lower cost profile
  • Reported cash costs of $838 per payable ounce of gold sold at the Marigold mine for the period from April to December 2014, at the low end of our cash costs guidance range. Fourth quarter cash costs of $665 per payable ounce of gold sold due to strong production in the period.
  • Reported 2014 cash costs of $12.08 per payable ounce of silver sold at the Pirquitas mine, in line with the lower end of our 2014 cost guidance. Fourth quarter cash costs at Pirquitas totaled $11.76 per payable ounce of silver sold.
• Achieved record production
  • Produced 129,615 ounces of gold at Marigold from April to December 2014, exceeding our 2014 production guidance which had been previously increased to between 110,000 and 120,000 ounces of gold. Produced 67,113 ounces of gold in the fourth quarter, a quarterly record for the Marigold mine since it commenced production in 1988 and 66% higher than the previous quarter.
  • Produced record 8.7 million ounces of silver and 30.0 million pounds of zinc in 2014. Achieved production guidance for the third consecutive year demonstrating consistent delivery to plan.
• Built strong cash position: $185 million in cash and cash equivalents as at December 31, 2014, an increase of $50 million quarter-on-quarter due to strong production and sales.

Click here to read the full Silver Standard Resources Inc. (TSX:SSO,NASDAQ:SSRI) press release.